Edenred (OTCMKTS:EDNMY) Stock Price Up 6.4% – Here’s Why

Edenred (OTCMKTS:EDNMY)’s share price was up 6.4% during trading on Wednesday . The stock traded as high as $15.00 and last traded at $15.00. 1,153 shares changed hands during trading, a decline of 94% from the average daily volume of 20,517 shares. The stock had previously closed at $14.10.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on EDNMY shares. Zacks Research raised Edenred from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Citigroup reissued a “neutral” rating on shares of Edenred in a research note on Friday, April 24th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Edenred in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Edenred Price Performance

The company’s 50 day moving average is $12.99 and its two-hundred day moving average is $11.62.

About Edenred

Edenred is a global leader in prepaid corporate services, offering a suite of digital and paper-based solutions designed to enhance employee benefits, streamline expense management and support corporate fleets. The company originated in 1962 as part of the Accor group and was listed as an independent entity on Euronext Paris in 2010. Today, Edenred operates under the Ticket Restaurant® brand, which remains a flagship offering for meal voucher programs, alongside a host of other employee engagement and incentive tools.

The company’s core products and services include employee benefits such as meal vouchers, food allowances and leisure gift certificates, as well as incentive and rewards programs that help organizations motivate and recognize their workforce.